Is the FSA’s move to relax capital rules for British banks good for the UK economy? October 10, 2012 YES Simon Hills This is a logical and welcome step. An adjustment of the regulator’s capital and liquidity buffer requirements, that takes into account the Funding for Lending Scheme and the Expanded Collateral Term Repo facility introduced in June, will help banks lend to their customers. Put simply, capital and liquidity buffers would be ineffective [...]
Rapid responses October 10, 2012 Counterfeit analogy [Re: Robust copyright is invaluable for a thriving economy, Wednesday] In defending copyright, Dominic Young compares copyright to money, arguing that although it is technically quite simple to do, money only works because copying it is illegal. Whatever the merits of copyright, Young’s analogy is deeply flawed. In its origins at least, money is [...]
The EU’s unstoppable ambition is stirring up trouble for the future October 9, 2012 IN EUROPEAN cinemas a short video called Hidden Treasures of Europe was broadcast last year. Produced by the European Commission, it starts with synthesizer chords reminiscent of Bach. We see a mountain lake and hear church bells. The question “Sweden?” appears, followed by the answer “Montenegro”. Two girls watch their mobile phones. The question “France?” [...]
Krugman’s senseless manifesto is good on rhetoric but bad on economics October 9, 2012 NOBEL Prize winner Paul Krugman will shortly be in town. With Lord Richard Layard, he will be calling for more public spending and borrowing. The two have issued a Manifesto for Economic Sense. But is it? The opening sentences make dramatic claims: “More than four years after the financial crisis began, the world’s major advanced [...]
Robust copyright is invaluable for a thriving economy October 9, 2012 COPYRIGHT. Can you think of anything more boring, more old-school, more passé? Surely it stands in the way of people just helping themselves to the things they find online? Its defenders are old businesses who want to use it to cheat, because they can’t compete their way to online success. But before we all rush [...]
Should home owners have the right to use disproportionate force against intruders? October 9, 2012 YES Robert Buckland The government is right to want to give home owners the peace of mind to know that they can defend their homes and their property without fear of being treated like a criminal. We have all heard stories about the victims of burglary finding themselves prosecuted and the time has come to [...]
Rapid responses October 9, 2012 Sharing is caring [Re: Osborne’s employment incentives idea is no game changer, Tuesday] If the purpose of the idea is to give workers a vested interest in the business, with the carrot of not paying capital gains tax on any profit that those shares make, then there are already existing schemes in operation such as the [...]
Taking a long view: Radical ideas for the Conservative’s manifesto October 8, 2012 IF YOU’RE keen to catch sight of what the Conservative party might look like in a decade’s time, you should make your way to the Sonata room at the Hyatt Hotel in Birmingham at half past seven this evening. A fringe meeting there, organised by the Institute of Economic Affairs and the Free Enterprise Group [...]
Businesses need to wake up to the real and present danger of cyber-crime is October 8, 2012 SPEAKING in Budapest, the Foreign Secretary William Hague recently announced that cyber-crime is “one of the greatest global and strategic challenges of our time”. In July, the director general of the Security Service Jonathan Evans stated that cyber security ranks alongside terrorism as one of the four key security challenges facing the UK. There is [...]
The Muslim world is opening up for Western investors October 8, 2012 AS INVESTORS and companies steer a course through social and economic turmoil, it is understandable that they are cautious of new markets. But, despite the volatility of the Arab Spring, it would be a missed opportunity to ignore the Muslim world. There are 1.8bn Muslims globally; the majority are spread across the 57 countries of [...]